Rogers Red Mastercard® vs BMO CashBack® World Elite® Mastercard®: Which one is better?

Rogers Red Mastercard®

4.5

More Details

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

BMO CashBack® World Elite® Mastercard®

4.2

More Details

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Finly Rebate

$60 Cash Rebate from FinlyWealth

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$720

Welcome Bonus

$90

Annual Fee

First Year Value

$810

$720 in years after

Based on $2,000/mo average spending and assuming you have an eligible Rogers, Fido or Shaw service as the primary or level 1 authorized user. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$490.46

Welcome Bonus

$190

Annual Fee

$120

First Year Value

$680.46

$370.46 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included

Balance Protection

Minimum payments

Insurance Included

Emergency Out of province Medical

$5M up to 8 days per covered person

Travel Accident

$500,000

Flight Delay

$500 After 4 hours delay

Lost or Stolen Baggage

$500/person, $1000 maximum

Baggage Delay

$500/person, $1000 maximum After 6 hours

Hotel Burglary Insurance

$1000

Car Rental Damage & Theft

$65,000 up to 48 days

Purchase Protection

90 days

Extended Warranty

Up to a year

Extra Benefits

No Cost roaming

5 days

Extra Benefits

Airport Lounge - Dragon Pass

Pass only, complimentary visits not included

Roadside Assistance

Includes free battery boosts, flat-tire change, lockout service and towing

Car Rental Discount

25% off base rate of participating National Car Rental and Alamo Rent a Car

Gas Discount

Get up to seven cents off per litre on Shell® fuel

Hotel Booking Discount

Save up to 7% on your Booking.com prepaid hotel or property rental bookings

Boingo Wi-Fi hotspot

Interest Rates

Purchase:

19.99%

Cash Advance:

22.99%

Interest Rates

Purchase:

20.99%

Cash Advance:

23.99%

Annual Fee

$120

First Year Waived

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required

Min Personal Income:

$80,000

Min Household Income:

$150,000

Welcome Bonus

$60 cash back when you make a mobile wallet purchase within the first 90 days and 6 automatic payments within the first 8 months for your Rogers, Fido or Shaw postpaid service ($90 if redeemed for Rogers, Fido or Shaw purchases).

Welcome Bonus

Get up to 10% cash back in your first 3 months with an incremental cashback value of $200

Rewards Rate

2% cashback on all purchases if you have 1 qualifying Rogers, Fido or Shaw service as the account owner
2% cashback on all U.S dollar purchases and 1% on all other eligible purchases if you do not have a qualifying Rogers, Fido or Shaw service
1.5x redemption bonus on your earned cash back value when used on Rogers, Fido and Shaw purchases – that’s a 3% cash back value

Rewards Rate

5% cashback on groceries (maximum $25 per statement)
4% cashback on daily transit (maximum $12 per statement)
3% cashback on gas (maximum $9 per statement)
2% cashback on recurring payments (maximum $10 per statement)
1% cashback on all other credit card purchases.

Is this card worth it?

This card is one of our top-ranked options in terms of rewards, especially if you are a Rogers, Fido, or Shaw customer. With those services, you can effectively get a 3% cashback rate, which is a higher rate than almost any other card offers, even those with annual fees! If you have a high income of $80K or a household income of $150K, you can apply for the World Elite version of this card, which comes with additional insurance and benefits like a lounge pass.

Is this card worth it?

If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.

Pros

Voted as the Best Cash Back Card in Canada for Rogers, Fido and Shaw Customers by FinlyWealth.
There is no annual fee, a notable perk for a card with such high reward multipliers. Most cards with slightly lower reward rates typically have annual fees.
Offers the flexibility to redeem cash towards Rogers, Shaw, or Fido services, potentially increasing the value of your earned rewards.
The roam-like benefit is a benefit unique only to this card.
It is accepted at nearly all locations as it's a Mastercard.

Pros

Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
Includes roadside assistance, a rare but valuable benefit for people on the road.
Provides a comprehensive list of insurance coverage and benefits.
High first-year value.

Cons

No real insurance coverage (only balance protection), not even purchase protection or extended warranty which are pretty standard benefits for almost all credit cards.
Low rewards multiplier if you don't have an eligible Rogers, Shaw, or Fido service.

Cons